This edition of the Weekly Update is sponsored by MPI, Management Planning, Inc.

Thanksgiving holiday closureAAA-CPA Share Please note in observance of the Thanksgiving Holiday the AAA-CPA offices will be closed on Thursday, Nov. 25 and Friday, Nov. 26. We will reopen on Monday, Nov. 28. During this season, we wish you and your families a happy and healthy holiday.

Management Planning Inc. (MPI) becomes AAA-CPA Silver PartnerAAA-CPA Share The AAA-CPA is pleased to announce that Management Planning Inc. (MPI) has become a Silver Partner. The AAA-CPA Partners Program is all about developing relationships with an exclusive and unique group of professionals. The Partners Program is an excellent way to gain on-going visibility for companies before attorney-CPAs that are key decision makers in their firm or practice. The AAA-CPA welcomes MPI, who will offer educational study groups to our membership, sponsor our breakfast during the annual Heckerling Institute on Estate Planning and much more. MPI is a specialized financial services firm providing tax-based valuations, valuations for financial reporting purposes and transaction and advisory services. Although best known for a tax-based practice centered on gift and estate tax valuations, over the past decade MPI has undertaken initiatives to expand their range of business services to include financial reporting valuations and transaction and advisory. To read the full release, please click here.

Special holiday offers for AAA-CPA members from T-Mobile!AAA-CPA Share Give more without spending more on T-Mobile 4G: Give the gift of unlimited 4G — and get unlimited gratitude! Surprise someone this holiday season with a 4G device on America's largest 4G network. Chat with friends, update your status on the fly, watch the latest movies and get where you need to go as much as you want. Click here or call 866-464-8662.

Update your resume — get a new job and a chance to win an iPadAAA-CPA Share As 2011 comes to an end, upload or update your resume on American Association of Attorney-Certified Public Accountants so that you are easy to find by employers looking to hire in 2012. Employers with pent up demand for new, talented employees are constantly searching our resume database. Make sure your resume is up to date with your latest accomplishments for your best chance at landing a great new job. Anyone who uploads or updates their resume on American Association of Attorney-Certified Public Accountants by Dec. 31, 2011 will automatically be entered for a chance to win an iPad. Click here to get started today.

AAA-CPA member cited by United States Court of Federal ClaimAAA-CPA Share Presidio Advisors LLC v. United States; United States Court of Federal Claim, Oct. 6, 2011, cited "The S Corporation Answer Book" by Judith Rood Traum and member Sydney S. Traum.

Congress passes 3 percent withholding repeal and veteran jobs tax creditsAccounting Today Share The House overwhelmingly passed legislation repealing the 3 percent withholding mandate on government contractors, along with a tax credit for hiring veterans. Both measures have already been approved by the Senate, allowing them to go to President Barack Obama's desk for his signature.
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Ex-UBS banker gets 5 years' probation in tax caseThe Associated Press Share A former banker at Swiss giant UBS AG was sentenced to five years' probation and no jail time for tax fraud as a reward for helping U.S. prosecutors build other tax evasion cases.
Senior U.S. District Judge James Lawrence King agreed that 45-year-old Renzo Gadola deserved leniency for his cooperation, which has led to charges against two former colleagues and at least one banking client.More

IRS chief looks for tax simplicityTax-News Share In his remarks to the Harvey Kennedy School in Cambridge, Mass., the United States Internal Revenue Service (IRS) Commissioner Douglas H. Shulman said that one of the greatest impediments to effective tax policy implementation is complexity, and that, above all, most taxpayers want tax code simplicity. More

Millionaires on Capitol Hill: Please tax me more!The Associated Press via TIME Share Lobbyists for a day, a band of millionaires stormed Capitol Hill to urge Congress to tax them more.
They had a little trouble getting in. It turns out there are procedures, even for the really rich.
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Tax evasion law 'could cost big banks $100 million'Reuters Share A U.S. law aimed at curbing tax evasion by citizens using foreign accounts could cost large multinational banks as much as $100 million apiece to implement in one-off systems costs, a top asset manager and a tax lawyer told a conference recently. The overall costs of implementing the Foreign Account Tax Compliance Act (FATCA), could approach the more than $8 billion FATCA is due to raise over 10 years, he said. More